Kia global sales inches towards 30m units

Kia Motors is set to surpass the 30-million mark in global sales this month, a half-century after it first rolled out a three-wheeled car in 1962. Nearly three quarters of its recorded sales were achieved in the new millennium after Hyundai Motor Group acquired the country’s second largest automaker in 2000, which had hitherto struggled in the late 1990s amid the Asian financial crisis.

Kia was known for low-priced and low-quality cars in the past, but that reputation has been transformed into a design-sensitive one, which produces a set of attractive models as reflected in its brand values.

According to U.S. consultancy firm Interbrand, Kia Motors made it to the best 100 brands list in 2012 for the first time and reached 83rd place last year with a value of $4.78bn, up 15 percent from a year before.

“As of the end of this April, Kia’s cumulative international sales stood at 29.9 million. As motorists buy more than 25,000 Kia cars every month, the overall figure is sure to top 30 million in May,” a Kia official said.

The carmaker’s growth gained momentum in 2000 when it became a Hyundai affiliate. It has sold 22.6m units between 2000 and April of this year.

It took 41 years for Kia to reach the 10-million mark in 2003, but doubled its performance in only seven years in 2010 and spent just four more years to add 10m more. The Korean market was its principal base, where the company sold about 10 million automobiles. In recent years, however, the United States, Europe and China have also become important markets of the firm.

In terms of models, its best-seller is the Pride the compact model has sold 3.46m since its launch in 1987. It is still popular at home and abroad. Also included in the million seller’s list were two sports utility vehicles of the Sportage and the Sorento with 3.1m and 2m, respectively. The former was launched on the market in 1993 while the latter was introduced in 2002.

Kia started to export its products in 1975. Back then, the average price was $1,400. The price tag was $13,800 last year. The firm now has an overseas capacity of manufacturing 1.44m vehicles a year.

MIKE OCHONMA